Corigliano Investment Advisers LLC Sells 295,483 Shares of Helix Energy Solutions Group, Inc. $HLX

Key Points

• Corigliano Investment Advisers LLC significantly reduced its holdings in Helix Energy Solutions Group by 75.4%, selling 295,483 shares and now owning 96,600 shares, which represents only 0.4% of its investment portfolio.
• Helix Energy Solutions Group reported a loss of $0.02 earnings per share for the last quarter, falling short of the consensus estimate of $0.01, while its revenue was $302.29 million, less than expected.
• Despite the earnings miss, analysts have varied opinions on Helix Energy Solutions Group, with Wall Street downgraded the stock to a "sell" rating while others maintain an "outperform" rating with a price target of $9.00.

Corigliano Investment Advisers LLC lessened its stake in shares of Helix Energy Solutions Group, Inc. (NYSE:HLX - Free Report) by 75.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,600 shares of the oil and gas company's stock after selling 295,483 shares during the period. Helix Energy Solutions Group makes up about 0.4% of Corigliano Investment Advisers LLC's investment portfolio, making the stock its 29th largest holding. Corigliano Investment Advisers LLC owned 0.06% of Helix Energy Solutions Group worth $803,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. purchased a new position in shares of Helix Energy Solutions Group in the 4th quarter worth about $34,000. AlphaQuest LLC increased its stake in Helix Energy Solutions Group by 594,600.0% during the 1st quarter. AlphaQuest LLC now owns 5,947 shares of the oil and gas company's stock valued at $49,000 after purchasing an additional 5,946 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Helix Energy Solutions Group by 43.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 7,053 shares of the oil and gas company's stock valued at $59,000 after purchasing an additional 2,123 shares in the last quarter. CWM LLC raised its holdings in Helix Energy Solutions Group by 78.0% in the first quarter. CWM LLC now owns 10,699 shares of the oil and gas company's stock worth $89,000 after buying an additional 4,688 shares during the last quarter. Finally, Cresset Asset Management LLC purchased a new position in Helix Energy Solutions Group in the first quarter worth about $91,000. Hedge funds and other institutional investors own 91.33% of the company's stock.

Analyst Upgrades and Downgrades

HLX has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Helix Energy Solutions Group from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Raymond James Financial reiterated an "outperform" rating and set a $9.00 target price (down from $10.00) on shares of Helix Energy Solutions Group in a research note on Friday, July 25th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $12.00.

Helix Energy Solutions Group Stock Performance

Shares of NYSE:HLX traded down $0.14 during midday trading on Monday, hitting $6.22. The company had a trading volume of 1,273,848 shares, compared to its average volume of 1,765,111. Helix Energy Solutions Group, Inc. has a 12-month low of $5.52 and a 12-month high of $12.33. The company has a fifty day moving average of $6.25 and a two-hundred day moving average of $6.80. The company has a market cap of $913.54 million, a price-to-earnings ratio of 19.42 and a beta of 1.65. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.19 and a quick ratio of 2.19.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The oil and gas company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.03). Helix Energy Solutions Group had a return on equity of 3.23% and a net margin of 3.92%.The company had revenue of $302.29 million during the quarter, compared to the consensus estimate of $326.62 million. Helix Energy Solutions Group has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Helix Energy Solutions Group, Inc. will post 0.26 EPS for the current fiscal year.

About Helix Energy Solutions Group

Helix Energy Solutions Group, Inc, together with its subsidiaries, an offshore energy services company, provides specialty services to the offshore energy industry in Brazil, the Gulf of Mexico, the East Coast of the United States, North Sea, the Asia Pacific, and West Africa regions. The company operates through four segments: Well Intervention, Robotics, Production Facilities, and Shallow Water Abandonment segments.